DFM, ADX open positive, with Dubai developers leading gains

Investors scouting for 'defensive' stock picks amidst heighted regional tensions

Last updated: June 23, 2025 | 11:47

Manoj Nair, Business Editor

1 MIN READ

Clear trends are emerging around real estate stocks on DFM, while on ADX, IHC and Aldar are making headway.

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Dubai: The Dubai Financial Market and ADX opened in the green on Monday, with investors not getting caught up in the mood to offload stocks on worries about the spillover effects from the latest developments in the Israel-Iran crisis.

Ninety minutes after the UAE stock markets opened for the week, the DFM was trading 0.98% higher, at 5,402.58 points – thus continuing the 1% gain from last Friday. The ADX opened in the red, but was soon bustling along higher at 0.2% higher to 9,760 points by 11:40am.

Also Read: Investors on high alert as US-Iran tensions threaten market stability

On ADX, the big hitters – IHC and Aldar – are trending positive, as is Multiply. On the down side were PureHealth and Abu Dhabi National Hotels, by just over 1%.

Amlak, Union Properties lead the way

In trends that’s been repeating itself in recent weeks, the Amlak (up 9%) and Union Properties (7.6%) were having another good day on DFM. Recently, Union Properties, the developer with a good comeback story, had even issued a statement saying there were no material reasons to explain the stock’s rise.

Emaar and Deyaar were also trending higher, again a continuation of recent trades.

Defensive picks

"The UAE has seen gains of 250% for the DFM Index and 165% for the ADX over the past 5 years," said Anita Gupta, Chief Investment Officer at Wealthbrix.

"While we expect markets to have a knee-jerk effect, we think the impact will be short, providing buying opportunities in quality UAE companies – banks, real estate and the Abu Dhabi ADNOC group. These are dividend payers of over 5% and cash flows remain resilient."

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.